Biden administration wipes out $39bn in student loan debt

Last month, in a 6-3 ruling, the US Supreme Court effectively shut down Mr Biden’s larger plan to cancel billions of dollars in student loans for more than 40 million Americans. The Supreme Court found the Biden administration overstepped its authority with the program, which would have forgiven about $10,000 per borrower, and up to $20,000 in some cases.


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